America is in the midst of the largest transfer of wealth in its entire history.  Over the next decade or so trillions of dollars will be changing hands.  To help you make the most of an inheritance here are some pointers on what to do:

  • Take a deep breath – most of the time suddenly finding yourself with a substantial amount of money means that an emotional event has occurred either through loss, divorce, or some other life event.  Take time to collect yourself and get calm.
  • Don’t make hasty decisions – take the time to understand what is now possible because of your financial windfall.  Many bad financial decisions stem from unchecked emotions so it’s important to give yourself time to process what has happened.
  • Think through what is most important to you and consider how your new-found funds can help you achieve those goals. For many people an inheritance can represent a valuable portion of their net worth and deserves to be thoroughly evaluated.
  • Find a team of professionals to help if you don’t already have them – an accountant, attorney, financial advisor and even therapist can all assist you with not only the emotions but the logistics of what this money can do for your future.  Journey Tree has helped numerous clients to preserve and use their inheritances to achieve their most important objectives.